The central parity rate of the Chinese currency, renminbi or yuan, strengthened 62 pips to 7.1105 against dollar on Monday, according to the China Foreign Exchange Trade System.
In China’s spot foreign exchange market, the yuan was allowed to rise or fall by two per cent from the central parity rate each trading day.
The central parity rate of the yuan against the dollar was based on a weighted average of prices offered by marketers before the opening of the interbank market each business day.
Credit: News Agency of Nigeria (NAN)
